Principal Financial Group (NYSE:PFG) Price Target Raised to $80.00

Principal Financial Group (NYSE:PFG) had its price objective hoisted by Barclays from $77.00 to $80.00 in a research report report published on Friday morning,Benzinga reports. They currently have an underweight rating on the stock.

A number of other research analysts have also issued reports on PFG. Piper Sandler upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target on the stock in a research note on Wednesday, December 18th. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Morgan Stanley reissued an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Keefe, Bruyette & Woods dropped their price objective on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Finally, BMO Capital Markets initiated coverage on Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price for the company. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $85.15.

Principal Financial Group Stock Performance

NYSE:PFG opened at $82.33 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market cap of $18.83 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 0.79 and a beta of 1.22. The firm’s fifty day moving average price is $80.04 and its 200 day moving average price is $82.05. Principal Financial Group has a 1-year low of $72.21 and a 1-year high of $91.97.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.75 per share. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.64%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s payout ratio is presently 43.71%.

Institutional Trading of Principal Financial Group

Several large investors have recently modified their holdings of the business. Metis Global Partners LLC lifted its stake in Principal Financial Group by 5.0% in the 3rd quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock valued at $965,000 after buying an additional 533 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Principal Financial Group by 66.2% in the third quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock valued at $2,137,000 after acquiring an additional 9,933 shares in the last quarter. Legacy Financial Group LLC acquired a new stake in shares of Principal Financial Group during the fourth quarter valued at $771,000. Empowered Funds LLC boosted its stake in shares of Principal Financial Group by 358.7% during the third quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock valued at $1,403,000 after acquiring an additional 12,768 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new stake in Principal Financial Group during the 3rd quarter worth about $1,475,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

About Principal Financial Group

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.